Saudi Aramco says it still plans to pay $75 billion in dividends for 2020

“We intend to pay the $75 billion, subject to board approval and market conditions,” Aramco CEO Amin Nasser told reporters on a conference call after announcing the company’s quarterly results. [nL8N2FB03M]Reporting by Rania El Gamal; Editing by Gareth Jones.

“We intend to pay the $75 billion, subject to board approval and market conditions,” Aramco CEO Amin Nasser told reporters on a conference call after announcing the company’s quarterly results. [nL8N2FB03M]Reporting by Rania El Gamal; Editing by Gareth Jones

98.5% of this business is owned by the Saudi royal family. Essentially, despite results, they have chosen to pay themselves the GDP of Guatamala. Laughable.

Whew. Good thing this isn’t Canadian Oil, eh, JustinTrudeau? I mean, we inow how we get oil and what we do with the revenues and Saudi Arabia is so much better... or they must be because we’ve shut our evil industry in.

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Saudi Aramco's profit plunges 73.4%, sees signs of oil market recoverySaudi state oil group Aramco on Sunday reported a 73.4% fall in second-quarter net profit, a steeper drop than analysts had forecast, and said it expected capital expenditure for 2020 to be at the lower end of a $25 billion to $30 billion range. Yes - a start to the fall.
Source: Reuters - 🏆 2. / 97 Read more »